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Publix Purchasing 7 BI-LO Stores

Publix Purchasing 7 BI-LO Stores

Publix Super Markets, Inc. has announced that it will be purchasing 7 Bi-Lo-branded stores in North and South Carolina and major equipment. Financial terms of the transaction were not disclosed, although the transaction is expected to close in October 2013, according to a press release.

“Publix has a strong financial foundation that allows us to aggressively grow throughout existing markets and our new Charlotte Division,” said Ed Crenshaw, Publix CEO. “Publix offers differentiating services we know our customers have come to expect from us like premier service, valuable savings, quality products, and knowledgeable associates. We’re excited to continue building life-long relationships with our Carolina customers and communities.”

Randall Onstead, president and CEO of Bi-Lo Holdings, cites the company’s acquisition of 165 stores from Delhaize Group and 22 stores from Piggly Wiggly Carolina Company as examples of fine-tuning Bi-Lo Holdings and its network of stores so that it can “reinvest in what matters most for our customers.” He stated: “This process is helping us fuel our long-term strategy of providing the freshest foods and the best deals to a broader base of customers. Where we are refining our store footprint with this transaction, we will ensure impacted associates are treated respectfully and can pursue other open positions in nearby stores.”

Publix will continue to look at aggressive growth in the North Carolina market.